› Flat Chat Strata Forum › Levies and Unit Entitlements › Can Annual levies be raised by more than 10%? › Current Page
Agree with all above. My two cents worth:
So many strata and owners are obsessed with the absolute level of levys. Surely it is what they are used for that is important. Since our strata has been doing our 10 years plans (as required by legislation) we have trebled our levys.
We not only do a 10 plan for the Sinking fund but the Admin fund. I find that when people are aware of the reasons they are usually ok with any increases.
I think that owners (especially owners who don’t live there) get nervous when they don’t know where the money is going. Transparency is the key.
As for a limit on increases, never heard of it or seen it. Again a properly constructed budget and 10 plan is vital.